Spice Money: Industry Monitoring 07 February 2019
- Priyanka Kanodia
- Feb 8, 2019
- 4 min read
Spice Money
Industry News
ePayLater partners with Oxigen to offer payment facilities for customers
Publication- The Economic Times
Edition- Online
Date- 07 February, 2019
Mumbai based instant credit facilitating platform ePayLater has entered into a partnership with digital payments company Oxigen, to allow its wallet customers to purchase services from the in-app billers and pay for them at a later stage. ePayLater’s one-of-a-kind ‘Buy Now, Pay Later’ service will allow Oxigen users to avail hassle-free credit with a 14-day, interest-free period. With the partnership ePayLater is hoping to tap a larger market by tapping their customer base.
Having already enhanced the customer experience for Oxigen users, who are able to make faster transactions without having to enter any sensitive bank information, customers will get a seamless and secure checkout experience, through this feature. “Through the tie-up, we hope to bring our seamless credit solution to Oxigen customers. Oxigen has a wide retail distribution network and has been a pioneer in the offline distribution of digital services. By engaging with this network, we hope to bring more innovative solutions to the market both in the online and offline sphere,” said Aurko Bhattacharya, Co-founder, ePayLater. EPayLater and Oxigen have rolled out their combined services pan-India and are offering customers across the country a chance to shop with utmost convenience. The service will enhance the spending capacity of Indians and will give a significant boost to digital transactions in the country.
Please click on the link below:
Swiss exchange SIX to launch blockchain
Publication- Deccan Chronicle
Edition- Online
Date- 07 February, 2019
Swiss exchange SIX plans to launch its new SDX trading platform using blockchain technology to speed up trading in the second half of this year, Chairman Romeo Lacher said on Wednesday. The new SIX Digital Exchange (SDX) will initially run parallel to the existing SIX platform, which involves three steps to complete a trade, often over several days. Two of those steps vanish in a blockchain distributed ledger, meaning a transaction can be completed in fractions of a second. “The supervisory board will probably decide (on the project)in late summer,” Lacher told Reuters on the sidelines of a Swiss Finance Institute conference, adding the group was clarifying legal and regulatory issues with the Finma market watchdog.
SIX had earlier signaled a summer start date for the alternative bourse, which it expects to overtake its traditional trading platform within a decade. Other exchanges are eyeing similar approaches, but SIX sees itself in the lead and intends to show off the technology by raising money itself via the new platform in the second half of the year. “We want to start with our own Security Token Offering,” Lacher said. Like an initial public offering (IPO) of stock or an initial coin offering (ICO), an STO raises capital. But while an ICO places a voucher for future products or services, an STO offers a stake in a company. SDX is likely to offer trading in selected stocks, followed by other stocks and later bonds and possibly exchange-traded funds, officials have said. Even assets that are not securities — such as paintings or vintage cars — could one day change hands on SDX.
Please click on the link below:
Paytm Money launches Pay Later Feature for Mutual Fund Investments
Publication- Tech Story
Edition- Online
Date- 07 February, 2019
Paytm Money, today announced the launch of the industry-leading “Register SIP Now, Pay Later” feature for its users. With this newly launched feature, all investors now have the option to start their SIPs by making the payment immediately or choosing to pay later. For users opting for this, Paytm Money sends the SIP for registration to the AMC once the first payment for the Mutual Fund scheme is made successfully.
Pravin Jadhav, Whole-time Director, Paytm Money said “Paytm Money encourages disciplined investing in mutual funds via SIPs for its investors, and we are pleased to see that more than 75% of our investors are opting for SIPs.” Pravin Jadhav, added, “With the ‘Register SIP Now and Pay Later’ feature investors who wanted to invest via SIPs, but, didn’t have funds at the time of registering, can now choose to make the payment when they have the required funds. Paytm Money will continue to innovate in this space with the aim to provide the best SIP management experience to its users.”
Please click on the link below:
Digital Payments: Future Opportunities and Challenges
Publication- CIOL
Edition- Online
Date- 07 February, 2019
We all are using digital payments, but the industry saw a massive boom post the implementation of demonetisation in November 2016. According to the National Payments Corporation of India (NPCI), the value of the BHIM Unified Payments Interface (UPI) transactions skyrocketed to INR 1 Tn while the volume of transactions reached 913 Mn, up from a meagre 7 Mn in April 2017. And in September 2018, UPI transactions increased to 405 million from 312 million in the preceding month. In terms of value, UPI transferred Rs 59,835 crore in September against Rs 54,212 crore in August, a 10.3% jump. One can imagine the growth of digital payments in 2019. This creates a huge opportunity for digital payment vendors as well as challenges. We spoke to Ajay Adiseshann, Founder & CEO, PayMate India Pvt. Ltd. to understand the future.
New opportunities for the digital payment industry
Comments